Dude, was that one tough billion.
Growth in weed’s legal wing has been slower and rockier than many of us anticipated. Yet, the recipients of tax revenue to fund child care, public health, and research aren’t out there complaining about what legal weed has brought to the State of California.
Orange County Register
- Tax revenue this calendar year is expected to reach the $1B annual earnings promised when REC was approved in 2016. In the first two months of sales, $72.6M came in. By the last three months of 2019, that figure had risen to $172.7 million.
- The main impediment to even more revenue is, of course, unregistered weed. Bootleg bud products are 30-to-80 percent cheaper than legal, taxed REC.